There's a rich ecosystem around distributed tracing via OpenTelemetry! Honeycomb was one of the pioneers of this, and they contributed significantly to OTel which largely standardizes this approach.

OP's approach is a bit different in that errors bubble up synchronously rather than asynchronously, which could be great for certain use cases! But the OTel approach accomplishes much of the same - as long as systems log their traces with propagated parent IDs, a dedicated external telemetry sink can reconstruct the hierarchy.

https://www.honeycomb.io/platform/distributed-tracing

https://opentelemetry.io/docs/concepts/signals/traces/

https://opentelemetry.io/docs/concepts/context-propagation/